Credit, collections & insolvency news
Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased by 24%
The figures in Quarter 3 (Q3) July to September 2023 showed 62 company insolvencies in Northern Ireland in Q3 2023, an increase of 24% from the same quarter of 2022.
The business insolvencies comprised 30 compulsory liquidations, 23 CVLs, eight CVAs and one administration. There were no administrative receiverships.
The figures also showed 376 personal insolvencies in Northern Ireland, 14% down on the same quarter of 2022.
The personal insolvencies comprised 295 IVAs, 41 DROs and 40 bankruptcies.
Latest figures from Accountant in Bankruptcy (AiB) has shown that business insolvencies in Scotland rose 19.9% in Quarter 2 (Q2) 2023-2024 when compared to pre-pandemic levels in 2019 and rose by 4.8% compared to the same period last year. Business insolvency numbers (liquidations and receiverships) increased by 4.8% compared with Q2 2022-2023, to a total…
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Allianz Trade has predicted that business insolvencies in the UK are set to increase in next few years. The report anticipates that business insolvencies in the UK will hover around 30% above pre-pandemic levels by 2025, with notable peaks expected in 2024 (29,850 cases i.e. +5%) and 2025 (28,400 cases i.e. -5%). The rise is…
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